Risch, Daines, Murphy, Shaheen Introduce Bill to Increase American Prosperity, Repeal Outdated Jackson-Vanik Trade Restrictions

WASHINGTON - U.S. Senators Jim Risch (R-Idaho) and Jeanne Shaheen (D-N.H.), chairman and ranking member of the Senate Foreign Relations Committee, joined Senators Steve Daines (R-Mont.), and Chris Murphy (D-Conn.), and Representatives Carol Miller (WV-01), and Jimmy Panetta (CA-19) to introduce a bill to repeal the outdated Jackson-Vanik trade restrictions.

"As a volatile Russia and an increasingly aggressive China pursue their own interests across the globe, the U.S. offers Central Asian nations the opportunity to work with an equal partner. Removing outdated Jackson-Vanik restrictions on our partners will pave the way for a new era of economic cooperation in Central Asia. I am proud to introduce this bill in support for President Trump's efforts to build a secure and prosperous future for the U.S. and our C5+1 partners," said Risch.

"Central Asia is rich in natural resources and is a strategically critical region for the U.S. Unfortunately, Central Asia is still subject to outdated, Cold War-era trade restrictions that prevent any permanent investment and hinder American trade and prosperity. It's past time that we get rid of these outdated restrictions and I'm proud to work with my colleagues on a bill that will repeal Jackson-Vanik and unleash the full potential of American relationships with Central Asia," said Daines.

"What was once a useful tool to coerce the Soviet Union into improving its treatment of Soviet Jews and minority groups, today the Jackson-Vanik amendment is an outdated policy that is holding back our partnerships with important countries in Central Asia. This bipartisan legislation is an opportunity to redefine our relationship with the region and advance America's economic and national security interests," said Murphy.

"America's partnerships with the strategically vital economies of Central Asia are strong and growing, but we also must incentivize long-term U.S. investments as China and Russia continue to pursue malign tactics and predatory programs. That is why I am proud to cosponsor this bipartisan bill to terminate trade restrictions that have long hindered America's engagement in this region. I look forward to helping unlock the full potential of our collaboration with Central Asia," said Shaheen.

"It is essential we strengthen America's trade relationships with Central Asian countries to ensure that all of our nations can thrive economically. The Jackson-Vanik Amendment is a relic of the Cold War that hinders our growing partnerships in the region. Granting Central Asian allies Permanent Normal Trade Relations reaffirms our commitment to building lasting economic agreements grounded in shared prosperity and a collective vision for a more stable and interconnected global economy. I look forward to continuing these conversations with President Trump and my colleagues in Congress,"said Miller.

"The Jackson-Vanik Amendment is an antiquated law that no longer applies to many countries, like Kazakhstan, that could be key to America's economic and strategic interests in Central Asia. By rolling back this outdated policy, we could modernize our trade practices, promote greater economic cooperation, increase investment opportunities, and strengthen our relationships in the region. It's long past time we got rid of Jackson-Vanik and brought U.S. trade partnerships in Central Asia into the 21st century," said Panetta.

Background:

Jackson-Vanik is a set of trade restrictions included in the 1974 Trade Act which denies unconditional normal trade relations to certain countries that had non-market economies and that restricted emigration rights. Senator Daines has long been a proponent of repealing the Jackson-Vanik trade restrictions. He has spoken numerous times in Senate Foreign Relations Committee hearings about the issue- read more HERE. Daines travelled to all five Central Asian countries- read more HERE.

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